On Sept. 3, Steward CEO Ralph de la Torre, MD, listed his home in West Newton, Mass., for more than $6 million. The development drove healthcare leaders to speculate whether Dr. de la Torre may be planning an exit from his post or whether Steward might soon hit the market, as well.
New York-based private equity firm Cerberus Capital Management acquired Boston’s Caritas Christi Health Care in 2010. The firm rebranded the nonprofit system as for-profit Steward and entered into an agreement with state regulators to keep the chain’s original six hospitals open for at least five years. Steward now operates a total of 11 community hospitals.
Boston Globe reporter Liz Kowalczyk spoke with Steward spokesperson Chris Murphy, who said Dr. de la Torre has been considering a move into Boston. His home has since been pulled from online real estate listings, and Mr. Murphy said it’s currently off the market as Dr. de la Torre “determined it would take time to find the right place,” according to the report.
Mr. Murphy said the CEO’s move into Boston should reduce speculation about his departure from the system, and there is “no expectation for his role to change,” according to the report. The spokesperson also said Steward is not for sale.
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